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Soybeans Fading Back After Monday’s Rally

Source: Nasdaq

Commodities & Raw MaterialsCommodity FuturesMarket Technicals & Flows

Soybean futures were down 6-7 cents in Tuesday morning trading, partially reversing Monday's 15-24 cent rally. Open interest increased by 3,122 contracts on Monday, indicating renewed participation as long investors re-entered the market. The move is a near-term negative for soybean prices but follows a sharp prior-session recovery.

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mildly negative

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